National Geographic to lay off 9% of its 2,000 employees

The National Geographic Society said it will lay off about 9% of its staff of 2,000; as a deal to sell the magazine and other media properties to 21st Century Fox nears completion.

businessUpdated: Nov 04, 2015 11:53 IST

AP

File photo of National Geographic logo. (Picture courtesy: Official website)

The National Geographic Society said it will lay off about 9% of its staff of 2,000; as a deal to sell the magazine and other media properties to 21st Century Fox nears completion.

Spokesperson MJ Jacobsen said in an email late on Tuesday that all employees have been told what their employment status will be once the deal closes later this month.

Buyouts have been offered to some employees, Jacobsen added.

In September, the 127-year-old non-profit struck a $725 million deal that gives 21st Century Fox a majority stake in National Geographic magazine, the National Geographic TV channel, and other media properties.

The agreement will give the company -- controlled by Rupert Murdoch’s family -- a 73% stake in the new National Geographic Partners venture.